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Project Owner
In project management, an executive or project executive is a person who has ultimate responsibility for a project, and is a role defined in the recognized project management framework PRINCE2. It is appointed by the customer during the start of the project and usually comes from the customer. The project executive is supported by the roles of senior user on the customer side and senior supplier on the supplier side, respectively. The tasks of the project executive involve securing funding, being responsible for the project delivering a product that achieves the goals that were set, and that this happens in a cost-conscious manner. The project executive is the main decision maker, and designs and appoints the rest of the project management team, including the other members of the project board and the project management team ( project manager, team leader(s)/sub-project manager(s), project assurance and project support). The person must balance the requirements of the customer, th ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Project Management
Project management is the process of leading the work of a team to achieve all project goals within the given constraints. This information is usually described in project documentation, created at the beginning of the development process. The primary constraints are scope, time, and budget. The secondary challenge is to optimize the allocation of necessary inputs and apply them to meet pre-defined objectives. The objective of project management is to produce a complete project which complies with the client's objectives. In many cases, the objective of project management is also to shape or reform the client's brief to feasibly address the client's objectives. Once the client's objectives are clearly established, they should influence all decisions made by other people involved in the project – for example, project managers, designers, contractors, and subcontractors. Ill-defined or too tightly prescribed project management objectives are detrimental to decision-m ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Project
A project is any undertaking, carried out individually or collaboratively and possibly involving research or design, that is carefully planned to achieve a particular goal. An alternative view sees a project managerially as a sequence of events: a "set of interrelated tasks to be executed over a fixed period and within certain cost and other limitations". A project may be a temporary (rather than a permanent) social system ( work system), possibly staffed by teams (within or across organizations) to accomplish particular tasks under time constraints. A project may form a part of wider programme management or function as an ''ad hoc'' system. Note that open-source software "projects" or artists' musical "projects" (for example) may lack defined team-membership, precise planning and/or time-limited durations. Overview The word ''project'' comes from the Latin word ''projectum'' from the Latin verb ''proicere'', "before an action," which in turn comes from ''pro-'', whic ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
PRINCE2
PRINCE2 (PRojects IN Controlled Environments) is a structured project management method and practitioner certification programme. PRINCE2 emphasises dividing projects into manageable and controllable stages. It is adopted in many countries worldwide, including the UK, Western European countries, and Australia. PRINCE2 training is available in many languages. PRINCE2 was developed as a UK government standard for information systems projects. In July 2013, ownership of the rights to PRINCE2 were transferred from HM Cabinet Office to AXELOS Ltd, a joint venture by the Cabinet Office and Capita, with 49% and 51% stakes respectively. History PRINCE was derived from an earlier method called PROMPT II (Project Resource Organisation Management Planning Techniques). In 1989 the Central Computer and Telecommunications Agency (CCTA) adopted a version of PROMPT II as a UK Government standard for information systems (IT) project management. They gave it the name 'PRINCE', which originally ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Funding
Funding is the act of providing resources to finance a need, program, or project. While this is usually in the form of money, it can also take the form of effort or time from an organization or company. Generally, this word is used when a firm uses its internal reserves to satisfy its necessity for cash, while the term financing is used when the firm acquires capital from external sources. Sources of funding include credit, venture capital, donations, grants, savings, subsidies, and taxes. Fundings such as donations, subsidies, and grants that have no direct requirement for return of investment are described as "soft funding" or " crowdfunding". Funding that facilitates the exchange of equity ownership in a company for capital investment via an online funding portal per the Jumpstart Our Business Startups Act (alternately, the "JOBS Act of 2012") (U.S.) is known as equity crowdfunding. Funds can be allocated for either short-term or long-term purposes. Economics In econ ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Scope (project Management)
In project management, scope is the defined features and functions of a product, or the scope of work needed to finish a project. Scope involves getting information required to start a project, including the features the product needs to meet its stakeholders' requirements. Project scope is oriented towards the work required and methods needed, while product scope is more oriented toward functional requirements. If requirements are not completely defined and described and if there is no effective change control in a project, scope or requirement creep may ensue. Scope management is listing the items to be produced or tasks to be done; their required quantity, quality, and variety; the time and resources available and agreed upon; and modifying the variable constraints by dynamic flexible juggling in the event of changed circumstances. See also *Cost overrun *Requirements management *Scope statement In project management, scope statements can take many forms depending on the ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Project Governance
Project governance is the management framework within which project decisions are made. Project governance is a critical element of any project, since the accountabilities and responsibilities associated with an organization's business as usual activities are laid down in their organizational governance arrangements; seldom does an equivalent framework exist to govern the development of its capital investments (projects). For instance, the organization chart provides a good indication of who in the organization is responsible for any particular operational activity the organization conducts. But unless an organization has specifically developed a project governance policy, no such chart is likely to exist for project development activity. Therefore, the role of project governance is to provide a decision making framework that is logical, robust and repeatable to govern an organization's capital investments. In this way, an organization will have a structured approach to condu ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Project Manager
A project manager is a professional in the field of project management. Project managers have the responsibility of the planning, procurement and execution of a project, in any undertaking that has a defined scope, defined start and a defined finish; regardless of industry. Project managers are first point of contact for any issues or discrepancies arising from within the heads of various departments in an organization before the problem escalates to higher authorities, as project representative. Project management is the responsibility of a project manager. This individual seldom participates directly in the activities that produce the result, but rather strives to maintain the progress, mutual interaction and tasks of various parties in such a way that reduces the risk of overall failure, maximizes benefits, and minimizes costs. Overview A project manager is the person responsible for accomplishing the project objectives. Key project management responsibilities include ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Project Team
In a project, a project team or team is defined as "an interdependent collection of individuals who work together towards a common goal and who share responsibility for specific outcomes of their organizations". An additional requirement to the original definition is that "the team is identified as such by those within and outside of the team". As project teams work on specific projects, the first requirement is usually met. In the early stages of a project, the project team may not be recognized as a team, leading to some confusion within the organization. The central characteristic of project teams in modern organizations is the autonomy and flexibility availed in the process or method undertaken to meet their goals. Most project teams require involvement from more than one department, therefore most project teams can be classified as cross-functional teams. The project team usually consists of a variety of members often working under the direction of a project manager or of a se ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Project Assurance
Project assurance or programme assurance is a discipline that seeks to provide an independent and objective oversight of the likely future performance of major projects for those responsible for sanctioning, financing or insuring such undertakings. The discipline has emerged as a response to consistent problems in major projects and the need to provide confidence for project or programme stakeholders of technologically advanced, high capital or high risk projects. Project assurance is in contrast with related disciplines such as project management, project benchmarking, value assurance or phase–gate model and project risk assessment. It is particularly well suited for projects with a major financial decision point beyond which revisions become exceptionally expensive. The term has expanded in its use to a more complete solution. It is now recognised that the original approach of audits of hard disciplines (methods, tools, processes) and soft skills (leadership, people mana ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Business Case
A business case captures the reasoning for initiating a project or task. It is often presented in a well-structured written document, but may also come in the form of a short verbal agreement or presentation. The logic of the business case is that, whenever resources such as money or effort are consumed, they should be in support of a specific business need. An example could be that a software upgrade might improve system performance, but the "business case" is that better performance would improve customer satisfaction, require less task processing time, or reduce system maintenance costs. A compelling business case adequately captures both the quantifiable and non-quantifiable characteristics of a proposed project. Business cases can range from comprehensive and highly structured, as required by formal project management methodologies, to informal and brief. Information included in a formal business case could be the background of the project, the expected business benefits, the ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Project Sponsor
Executive sponsor (sometimes called project sponsor or senior responsible owner) is a role in project management, usually the senior member of the project board and often the chair. The project sponsor will be a senior executive in a corporation (often at or just below board level) who is responsible to the business for the success of the project. Responsibilities The sponsor has a number of interfaces and responsibilities for the project. Board The responsibilities for which the sponsor is accountable to the board are: * Provides leadership on culture and values * Owns the business case * Keeps project aligned with organization's strategy and portfolio direction * Governs project risk * Works with other sponsors * Focuses on realization of benefits * Recommends opportunities to optimize cost/benefits * Ensures continuity of sponsorship * Provides assurance * Provides feedback and lessons learned Project manager The governance activities that take place between the sponsor ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
